$TXT (Textron Inc.)

$TXT Product Update: Company, announced today its Aeronautical Accessories brand is now a distributor of several new offerings, including the new Bell 407GX Electronic Standby Attitude Indicator Installation kit, a Rappel Mount and Cargo Deployment and kit and a newly developed Bell 429 Baggage Door Hold Open kit.

$TXT reiterated its FY17 GAAP EPS from continuing operations guidance of $2.22-2.45 or $2.40-2.60 on an adjusted basis. Textron also confirmed its net cash provided by operating activities of continuing operations of the manufacturing group guidance of $1.045-1.145Bil and manufacturing cash flow before pension contributions of $650-750MM.

$TXT posted 2Q17 income from continuing operations of $0.57 per share or $0.60 per share of adjusted income from continuing operations, compared to $0.66 per share a year ago. Revenues in the quarter were up 2.6% to $3.6Bil. Net income fell to $153MM or $0.57 per diluted share from last year's $177MM or $0.65 per share.

$CAT's BoD appointed Cheryl H. Johnson as the Chief Human Resources Officer (CHRO) effective July 24, 2017. In this new role, Johnson will report directly to the CEO Jim Umpleby, and will be a member of company's executive office. Prior to this she was the EVP of human resources at $TXT.

Bell Helicopter, a $TXT company, said that Shaanxi Helicopter Co. Ltd. has signed a purchase agreement for 100 Bell 407GXPs, with deliveries starting in 2017, in connection with the framework agreement entered into with Shaanxi in 2016. The Bell 407GXP, launched in 2015, is an upgrade to the Bell 407 product line.

$TXT appointed Lisa Atherton as president & CEO of Textron Systems. She succeeds Ellen Lord, who will be nominated by President Donald Trump as Under Secretary of Defense for Acquisition, Technology and Logistics within the Department of Defense. Atherton most recently served as EVP of Military Business at Bell Helicopter.

$TXT has been named as one of two companies selected to compete
for Mid-Endurance Unmanned Aircraft Systems (MEUAS) III task orders from the US
Special Operations Command (USSOCOM). The contract is 54-months long with a
maximum ceiling of $475MM.

Textron Aviation, a $TXT company, rolled out the first production unit of the Cessna Citation Longitude, its latest clean-sheet design, super-midsize business jet. State-of-the-art assembly and fabrication tools and techniques bring exceptional quality and superior fit and finish to this revolutionary aircraft.

Textron Aviation, a subsidiary of $TXT, said the European
Aviation Safety Agency and the Federal Aviation Administration have certified its
Cessna Turbo Skyhawk JT-A, paving the way for deliveries to customers in Europe
and the US. The aircraft has exceeded the
initial performance targets, including improved maximum range.

$TXT elected Deborah Lee James to its BoD, effective July 1, 2017. James recently retired as the 23rd Secretary of the United States Air Force, a position she had held since 2013. James has 30 years of homeland and national security experience in the federal government and the private sector.

$TXT unit Textron Systems Advanced Information Solutions has been selected as a prime contractor on the United States Army Responsive Strategic Sourcing for Services (RS3) contract. The RS3 contract has an expiration date of May 14, 2022 and an additional five-year operational ordering period.

Textron Systems Unmanned Systems, a business of $TXT, announced the achievement of two significant milestones in the continued maturation of its family of lightweight Cased-Telescoped (CT) Machine Guns.

Bell Helicopter, a subsidiary of $TXT, announced the delivery of a Bell 429 to Beijing Jinyu General Aviation Co. The customer's Bell 429 is outfitted for multi-mission capabilities including Helicopter Emergency Medical Services (HEMS). Beijing Jinyu accepted the delivery at Bell Helicopter's facility in Mirabel, Canada.

$TXT commented that on the
Scorpion jet aircraft required for the Air Force program; the company could do
it with one as the decision is left with the companies. $TXT currently has two
flying right now and will have a third that will be flying shortly. Therefore,
depending on the scheduling and operation $TXT could support it with one or
two.

$TXT said that most of the
negative impact of the Arctic Cat acquisition in terms of the 2017 financials
is driven by solving the inventory issue. On the restructuring plan, the
company added that there is no change in it other than tightening it. Mostly
the restructuring will be done by end of 2017, with the bulk of it done in 3Q17.